Homeowners Insurance Information

Everyone’s home is different.

Some people have large homes, some have small homes. Some people have homes that are 100 years old, while some people have homes that are brand new. What is important for you as the owner of your home is to make sure that your homeowners insurance is the right insurance for your home.

What is Homeowners insurance?

Homeowners insurance provides you with financial protection against disasters. It insurers you for damages to your house, to your contents, and provides personal liability protection for you as the owner of your home.

Most damages to your home or your contents are covered with a homeowners insurance policy. However, there are exceptions. The most significant are damages caused by floods and/or earthquakes. In most cases you must buy separate policies for flood and earthquake damage. Also, most maintenance-related problems, such as old pipes, aging gutters, and old roofs are not covered with a homeowners insurance policy.

Why do you need homeowners insurance?

It’s all about protecting yourself from the large financial losses that can occur if something unexpected happens to your home or possessions. Chances are your home is one of your largest financial investments.

• If your home was destroyed by fire you'd need money to repair or replace it. For example, a “small” kitchen fire can cost thousands of dollars to repair.
• If a guest is injured, liability protection and medical coverage helps pay expenses.
• If you are a victim of theft and vandalism, it can reimburse you for your loss or pay for repairs.
• Your mortgage company will require it as a condition of your loan

Things to consider and questions to ask your agent

• How much will it cost to rebuild my house and replace my belongings if they are damaged or destroyed? (discuss with your agent your home's features and any expensive things you may own so you can make an informed decision about coverage.)
• Does the insurance company have a good reputation for customer service? Is it known for paying claims fairly and promptly?
• What discounts are available? (Ask about multiple policy, and security system discounts.)
• What's the process for filing and settling a claim? (Ask who to call and what happens after you file a claim.)